|₹49.15 / ₹30.1
Incorporated in the early eighties, SMIFS Capital Markets is engaged in financial services. During 1994-95, the company placed 8.5 lac shares on private placement at a premium of Rs 285 and 11 lac shares at a premium of Rs 165. The company intends to concentrate on enlarging its investor base and expanding its market network. It has set up offices at Bangalore and Madras and intends to capitalise on its all-India reach to build up an effective distribution network for all its primary market products. The company plans to consolidate and upgrade its existing fund and non-fund based activities in the areas of merchant banking, marketing of financial products, lease and hire purchase finance. It also plans to enter into other business lines like venture capital financing, housing finance, etc, which have immense scope and profit potential and will enable it to provide a complete spectrum of financial services.